04-15-2014 01:39 PM
Beans up about a quarter and Bunge moved the basis from -5 to -2. Moving the basis is sign of supply.
Wonder if Marubeni is in a squeeze or if it is the Chinese? Played the game one too many times or in too big a way?
04-16-2014 05:50 AM
Moved the basis back to -5 after the markets closed.
One has to wonder if they are buying beans like they did @ the 13 or 14 dollar level or if the easy pickins are sold already. I would think $15 would find some more that have been in hiding?
Beans up another good bump here in the overnights.
Don't laugh but my feeling (not anthing to take to the bank) since I harvested mine and could see all the selling off the combine was they have an out side chance of $17ish. They are half way there. That being said I have been surprised at how many were left when they got back into that $13 cash area. Had to be millions sold at that price point. $14 got another nice round of farmer selling around here, I even sold a few loads.
Just a few years ago $15 was a "moon shot" price. QE has diluted that to just a good price.
Anybody price good land or maybe a new planter @ $10,000+ /row, combine, tractor, how about a new Pick up ($50,000) or more.
04-16-2014 06:22 AM
Morristown Bunge went to + .40 last night - was + .35 , Cash this morning is 15.58 - still have 3 trailers left .
Hobby - your right - 13.54. took part of them , then 14.55 got some . Now 15.58 - what to do , what to do , lol